The Globe and Mail reports in its Friday edition that Raymond James analyst Daryl Swetlishoff has lowered his recommendation for Conifex Timber to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Swetlishoff is currently the lone analyst covering the stock. Mr. Swetlishoff continues to target the shares at 85 cents. Mr. Swetlishoff says in a note: "Shares have been under heavy pressure with the stock down 52 per cent over the past year, vs. the lumber peer group down 11 per cent (TSX Index up 12 per cent) leaving the stock in deep value territory. Current trading levels are well below our risk-adjusted NAV estimate -- with the market assigning negative value to Conifex's lumber platform -- and remain dramatically below tangible book value. Despite market sentiment, we highlight that Conifex maintains several positive attributes, including: 1) a high degree of timber self-sufficiency, 2) improved lumber sales realizations following the transition to high-value green timber harvesting, and 3) the stability and cash flow diversification provided by its bioenergy operations. ... With tariff-induced uncertainty lumber buyers and mills are currently in a stalemate."